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Ord 2024-038 approving the 2024 Annual Service Plan Update for the Trace Public Improvement District
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Ord 2024-038 approving the 2024 Annual Service Plan Update for the Trace Public Improvement District
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10/3/2024 4:57:51 PM
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Approving
Number
2024-038
Date
9/3/2024
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ANNUAL INSTALLMENT DUE 1/31/2025 <br /> ■ Series 2019 Bonds Principal and Interest—The total principal and interest on the Series <br /> 2019 PID Bonds required for this year's Annual Installment is $846,075.00. <br /> ■ Series 2019 Additional Interest — The Delinquency and Prepayment Reserve <br /> Requirement, as defined in the Indenture, of$598,400.00 has not been met. As such, the <br /> Delinquency and Prepayment Reserve will be funded with Additional Interest on the <br /> outstanding Assessment, resulting in an Additional Interest amount due of$54,500.00 <br /> ■ Series 2024 Principal and Interest — The total principal and interest on the Series 2024 <br /> PID Bonds required for this year's Annual Installment is $485,957.50. <br /> ■ Series 2024 Additional Interest — The Delinquency and Prepayment Reserve <br /> Requirement, as defined in the Indenture, of$348,315.00 has not been met. As such, the <br /> Delinquency and Prepayment Reserve will be funded with Additional Interest on the <br /> outstanding Assessment, resulting in an Additional Interest amount due of$31,665.00. <br /> ■ Overcollection Credit -The amount due January 31, 2024,was billed prior to the issuance <br /> of the Series 2024 Bonds, which resulted in interest savings that will be applied to the <br /> Annual Installment due January 31, 2025, in the amount of$8,044.86. <br /> ■ Annual Collection Costs — The cost of administering the PID and collecting the Annual <br /> Installments shall be paid for on a pro rata basis by each Parcel based on the amount of <br /> outstanding Assessment remaining on the Parcel. The total Annual Collection Costs due <br /> is $46,107.00. <br /> P3Works Administration $ 31,212.00 <br /> City Auditor 2,500.00 <br /> Filing Fees 1,000.00 <br /> County Collection 895.00 <br /> Miscellaneous 1,000.00 <br /> PID Trustee Fees 3,500.00 <br /> PID Trustee Fees ( B Series Bonds) 3,500.00 <br /> Arbitrage Calculation 2,500.00 <br /> Total $ 46,107.00 <br /> iiiiiiiiiiiiiiiiiiiiiillillillillillillilliillillillillillillillilillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillI <br /> TRACE PUBLIC IMPROVEMENT DISTRICT 7 <br /> 2024 ANNUAL SERVICE PLAN UPDATE <br />
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